Tension, friction, and conflict are common in the workplace, especially when pressure is high. One habit, or nonhabit, in particular, helps to reduce conflict and build trust. It may sound simple, but it's difficult to achieve. The practice is this: Don’t attack people.
We are socialized to believe that we get what we pay for. In the case of trustee and planning services, does the lack of a stated fee imply to clients that these services have little value? Preston McSwain offers his perspective.
You never expect to hear a client say, “I enjoy an inartfully delivered, vague, and winding message with digressions and personal updates about your private life.” And yet that's how some advisers communicate with them. Jim Ware, CFA, discusses the art of headline writing and speaking for effective communication.
As a core part of the critical economic infrastructure, financial firms offer a prime target for adversaries who want to steal data and funds or even to disrupt the industry. Financial firms effectively have fallen behind in a cyber arms race, and the magnitude of risk has vastly increased, with organized crime and state-sponsored attacks becoming more active and powerful. But financial professionals may have a surprising ability to adapt.
Overcoming the concerns about occupying a niche leads to several benefits for both an advisory firm and its clients. First and foremost, a specialized focus will make you, as an analyst, more knowledgeable about your clientele. Another major benefit is that you are a category unto yourself in the minds of your potential clients, writes Isaac Presley, CFA.